Don't Ignore This Chart

Cameco (CCJ) Breaks Out Of The Base


Cameco has underperformed for years. About 6 months ago, Cameco started to limit Uranium supply. Now the stock looks set up to run. 

The SCTR is moving back above 75 which is a sign of a strong stock. The Full Stochastics are turning up above 50 which is a bull market trait. Price is moving to new 52 week highs. 

On the recent pullback, volume was light. Bullish.

Now the PPO is above zero and looks set up to make higher highs. Another bullish trait. 

The big picture is the three year base at $13. If this starts to run above that level, this could really become a big multi year move.

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Good trading,
Greg Schnell, CMT, MFTA
Senior Technical Analyst,

Book: Stock Charts for Dummies
Twitter: Follow @Schnellinvestor

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018). Learn More
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